Emirates Telecommunications Group Company PJSC, known as e&, said Friday it has agreed to sell its entire stake in Vodafone Group PLC (NYSE:VOD) for approximately 21.8 billion United Arab Emirates dirham ($5.95 billion), following a strategic review of its international investment portfolio.

Following the announcement, VOD stock jumped nearly 13%.

The Abu Dhabi-based telecom company also said it has terminated its Relationship Agreement with Vodafone. As part of the move, e&’s board representative has stepped down from his role as a non-executive director of Vodafone.

Sale Terms

e& signed a binding agreement with Vega, an acquisition vehicle wholly owned by the Niel family group, to sell its entire holding of 3,944,743,685 Vodafone ordinary shares.

The stake represents about 16.21% of Vodafone’s issued share capital and 17.13% of its total voting rights.

The agreed price is 112.5 British pence per share. The consideration includes about 110.5 pence per share in cash from the buyer and Vodafone’s final fiscal 2026 dividend of 2.02 pence per share, which e& expects to receive on July 30, 2026.

Financial Impact

The shares will be transferred through simultaneous off-market block trades to three financial institutions. The institutions will temporarily hold the shares until Vega completes the required regulatory approvals.

Upon completion of the transfer to the financial institutions, e& expects to receive cash proceeds of about 21.8 billion dirham ($5.95 billion), including the final fiscal 2026 dividend. The company said the transaction is expected to generate a net cash return of about 4.7 billion dirham ($1.3 billion).

Vodafone Technical Levels To Watch

Vodafone is trading 5.8% above its 20-day simple moving average of $13.98 and slightly above its 50-day moving average of $14.78. However, it remains 1.1% below its 100-day moving average of $14.95, indicating the intermediate-term trend has yet to turn positive.

The moving average setup remains mixed. The 20-day moving average is below the 50-day moving average, reflecting recent weakness. At the same time, the 50-day moving average remains above the 200-day moving average, suggesting the longer-term trend is still intact.

Traders are watching resistance near $15.50. A move above that level could strengthen bullish momentum. On the downside, support sits around $14.50. Holding that level could help sustain the current rebound.

VOD Stock Price Activity: Vodafone Group shares were up 12.69% at $14.74 during premarket trading on Friday, according to Benzinga Pro data.

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